Vignette (NASDAQ:VIGND)
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From May 2019 to May 2024
Vignette Corp. (Nasdaq:VIGND) today announced that the
State of Connecticut's Retirement and Benefits Services Division
(RBSD) selected Vignette(R) IDM to transform its document and records
management practices and better help manage assets of $37 billion and
the administration of retirement benefits for the 85,000 Connecticut
state employees. Prior to deploying Vignette document management, the
tasks involved with storing, managing and retrieving hundreds of
thousands of state employee records were beginning to overwhelm RBSD's
limited IT staff resources. In choosing Vignette, the State of
Connecticut now has a flexible technology system that can handle
existing records as well as efficiently store newly created
information.
As the State employs more people and the number of pensions under
management grows, an increased volume of paper records is placing
greater demand on the storing, managing and retrieval of hundreds of
thousands of records. To combat this increased activity, RBSD needed a
flexible technology solution that could handle the processing of
existing records and efficiently store newly created information. For
many years it had used a microfiche system to capture and store all
retirement records and recognized that replacing the outdated system,
which frequently broke down and was no longer supported by its
original vendor, was a necessity in order to allow the division to
operate more efficiently. With Vignette, RBSD now can effectively ease
the burden of processing the capture, retrieval and storage of
information and transactions by automating its expensive and
inefficient manual business processes.
Shortly after deployment nearly all microfiche records were
converted to the new system. All new incoming paperwork, from an
applicant's forms to changes in marital status or beneficiaries is now
immediately captured in the employee's individual retirement case
folder and stored in the Vignette system. Integrating with its
existing image-enabled mainframe, RBSD can create electronic records
for the tracking of retirement purchases, refunds and bi-weekly
balancing of the state's payroll and accounting systems. The seamless
integration with the mainframe allows for ease of use with virtually
no employee re-training needed.
The records of nearly all active state employees have already been
converted, and RBSD is making steady progress toward converting
roughly 300,000 microfiche files pertaining to former employees.
"The ability to access our records electronically has transformed
the way we operate and the time savings alone will justify the
investment. We attribute part of this success to the relationship RBSD
has grown to rely upon with Vignette. They are a valued partner that
will continue to grow with us as we grow our business," said David
Wemett, technical analyst with the State of Connecticut RBSD. "This
project has been so successful that the state employees are happy to
demonstrate the system to other agencies and organizations. That's
completely unheard of in state government."
The Vignette solution also integrates with the mainframe to
validate each member's identification number and auto-fill additional
indexing information to the document repository, while using scanning
technology to convert microfiche to images. This results in savings of
time and increased business productivity.
"The State of Connecticut's Retirement and Benefits Services
Division is forward-thinking in its ability to recognize the power of
moving from traditional paper-based processes to a secure document
management system that allows it to more efficiently manage increased
amounts of information and provide higher levels of customer service
without having to add incremental staff," said Chuck Neal, senior vice
president of worldwide sales and distribution at Vignette. "The fact
that RBSD was able to get up-and-running in six weeks speaks to the
ability of Vignette document management solutions to make almost
immediate positive impact on a business."
About State of Connecticut Retirement and Benefits Services
Division
The State of Connecticut's Retirement and Benefits Services
Division manages assets of $37 billion and administers the retirement
benefits for 85,000 Connecticut state employees. As the agent of the
State Employees Retirement Commission, the RBSD administers all state
pension plans except the Teachers Retirement System, and provides a
comprehensive package of services ranging from pre-retirement
counseling to post-mortem accounting. The RBSD also administers state
employee benefits and manages the state deferred compensation plan.
More specifically, it provides direction for plan design, benefit
administration and interpretation, and policy for all state insurance
benefits including medical, surgical, hospital and life insurance.
About Vignette
Vignette's software and expertise help organizations harness the
power of information and the Web for measurable improvements in
business efficiency. As the efficiency experts, Vignette
(Nasdaq:VIGND) helps organizations increase productivity, reduce
costs, improve user experiences and manage risk. Vignette's intranet,
extranet and Internet solutions incorporate portal, integration,
enterprise content management and collaboration capabilities that can
rapidly deliver unique advantages through an open, scalable, and
adaptable architecture that integrates with legacy systems. Vignette
is headquartered in Austin, Texas, with local operations worldwide.
Visit http://www.vignette.com to see how Vignette customers achieve
measurable improvements in business efficiency and to find out why
more companies prefer Vignette.
FORWARD-LOOKING STATEMENTS
The statements contained in this press release that are not purely
historical are forward-looking statements including statements
regarding the Company's expectations, beliefs, hopes, intentions or
strategies regarding the future. Forward-looking statements include
statements regarding Vignette's products, future sales, market growth
and competition. All forward-looking statements included in this press
release are based upon information available to the Company as of the
date hereof, and the Company assumes no obligation to update any such
forward-looking statement. Actual results could differ materially from
the Company's current expectations. Factors that could cause or
contribute to such differences include, but are not limited to, Future
Losses, Limited Operating History, Fluctuation of Quarterly Revenues
and Operating Results, Acquisition Integration, Competition,
Dependence on a Small Number of Large Orders, Lengthy Sales Cycle and
Product Implementation, Market Awareness of Our Product, Rapid Changes
in Technology and New Products, and other factors and risks discussed
in the Company's reports filed from time to time with the Securities
and Exchange Commission.
Vignette, the V logo, e:fficiency and e:fficiency experts are
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their respective owners.
NOTE TO EDITORS: In the terms "e:fficiency" and "e:fficiency
experts," the "f's" are italicized. The font was changed for
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